CEO States That Implementation of Specific Aspects of New Growth Strategy Are Soon to be Announced
TAMPA, Fla., Nov. 15 /PRNewswire/ -- 800 Travel Systems, Inc. (Nasdaq: IFLY - news), a leading provider of a full range of travel related products and services, reported today that revenues for the nine months ending September 30, 1999 have increased 9.7% to $9,408,529 from $8,579,411 for the same period in 1998. Earnings per share have improved to $.03 for the nine months ending September 30th, 1999 from $.02 for the same period in 1998.
Gross reservations for the first nine months of 1999 were $60,195,762. For comparative purposes, it is important to recognize that certain other travel companies report their gross reservations as revenues.
Revenues for the third quarter of 1999 were $3,476,677 as compared to $3,504,903 for the third quarter of 1998, while earnings per share remained unchanged at $.03 for the same periods.
``We are fully committed to building 800 Travel Systems into a powerful force in the on-line travel market,' stated Mark D. Mastrini, President and CEO. ``Our diversification and growth strategy is taking shape. We expect to announce the implementation of specific aspects of this strategy with respect to our Internet initiatives, select management additions, as well as strategic alliances and partnerships in the near future. We believe that the Company is well positioned to achieve its objectives going forward.'
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